The
role of company chief executive brings with it all sorts of challenges, from
dealing with the nitty gritty of making decisions daily to formulating strategies to take your
company forward.
That’s
why it’s important to stay focused on the vital things which keep the wheels
turning and the whole enterprise on track.
1. Real relationships
Real
relationships with staff, with partners, with customers and with consumers all
start with your everyday interactions.
As
both a leader and a manager it is important to establish real relationships and
engage your staff, starting with everyday interactions. How well do you know
your staff, their families, what really motivates and inspires them?
I
try to connect with members of the team each and every day and maintain an
openness and transparency which enables real relationships.
After
all, you are really a caretaker in terms of your leadership of people, teams
and businesses and you want to ensure you grow and develop the team while you
are leading them and that your relationships with those team members transcends
your current role.
Every
CEO has at some stage in their career reported to a manager and in my
experience those managers/CEOs that have inspired and motivated me the most are
those I have had a real connection with. Not “tick the box” type stuff but the
real type – relationships which last and are based on mutual honest and
respect.
Interestingly,
all of my business mentors today are previous managers and all exhibit great
integrity, openness and honesty – these are all based on foundations of real
relationships.
Fifty
per cent of employees have admitted they would leave their current job if they
had the opportunity to being better recognized elsewhere.
2. Daily deep data
I
start every day with an extra hot coffee and a review of the previous day’s
figures. This is so important to understand how the week, the month, the
quarter and the year is really looking. Anecdotal evidence is simply not
sufficient in business today, and without being able to grasp the data you have
little else.
I
also expect my team to start the day with data (coffee optional), and find that
a shared sense of where we are leads to a far more productive team and business
and a more fulfilling work experience.
The
Australian Securities and Investments Commission (ASIC) analysis of the July
2012-June 2013 financial year indicated poor strategic management as the
highest cause of business failure, with 42.2% of failed businesses nominating
this as the key reason for closing their doors.
3. Absolute accountability
You
must focus on the most important things and ensure your team has total
accountability. While this is a common mantra, it is one which is often easier
said than done. Too often the focus is on less important pieces of the business
and we get too involved in areas where your team are more than capable (and it
is their role) to make a decision or take an action.
Accountability
will enable the team to learn how to fail (fast) and develop their skills along
the way. While there are times where you may need to lend your expertise, try
where possible to enable explicit accountability as it will help achieve a more
scalable and successful business, and your team will be far more motivated,
passionate and productive.
Understanding
what needs to be achieved to reach a goal is important but ensuring that
adequate accountability is in place is paramount. Too often I have seen
ambiguous team goals that don’t stack up to business success and have led to
underperformance.
As
Stephen Covey noted, “accountability breeds response-ability” and I believe
that accountability really breeds ability. You must own it.
4. Eat your own dog food
Love
your product. You must know your product and use it – always!
I
can always tell when I have a coffee from a barista who doesn’t drink coffee it
just doesn’t seem to taste as good. I am using our products we provide every
day, and businesses where the team use and love the products each and every day
have a deeper level of understanding and a more productive output.
My
pet hate is the team member who does not know our product in detail – there is
absolutely no excuse in my experience for this being the case. If you feel good
about your product, your consumers and customers will as well – which is great
for business. You’ll also be your harshest critic and ensure you continue to
move in a direction from mediocrity to perfection.
I
had a recent example where we were working through a mobile solution and it
just wasn’t panning out – loads of bugs and issues. The team found out that
they were using a different advice to the majority of our users which was
quickly fixed!
5. Enjoy yourself
Life
is not a dress rehearsal. You must enjoy yourself and get the most out of work
and business as you spend the majority of your daylight hours at work. I have
been fortunate in that I have enjoyed almost every job I have had. When I
haven’t, I have made a conscious decision to proactively move on to find
something that I enjoy.
Enjoyment
in the role will also increase your team’s motivation and, ultimately, the
success of the business. I am yet to meet a successful leader who doesn’t enjoy
what they do.
At
the same time, you need to maintain a work-life balance – this work-life
balance obviously differs by person – but at the end of the day family and
extra-curricular activities keep your life in balance. These are things to be
encouraged and promoted in the workplace rather than things to be guilty about.
Statistics
show that happy employees stay twice as long in their roles as those who are
dissatisfied.
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